Essex Realty Group, Inc. is proud to announce the sale of 7901 N.Keeler Avenue, a 13 unit apartment building in the North Chicago suburb of Skokie. The unit mix consists of twelve (12) 1Bd/1Ba units and one (1) 2Bd/1Ba unit. The Property has recently received multiple capital improvements including a new boiler (2013), windows (2013), and copper plumbing (2015).
Current ownership recently converted a 1Bd/1Ba unit to a 2Bd/1Ba unit. The same conversion could be executed for the remaining six units located in the north and south tiers of the Property, resulting in seven 2Bd/1Ba units. The increase in the number of bedrooms could potentially result in an increase of nearly $18,000 in annual income, or roughly $250/unit/month.
The Property went under contract after one day on the market and sold at list price.
7901 N. Keeler Avenue is located 13 miles north of Chicago’s Central Business District and is accessible via the Oakton-Skokie CTA Yellow Line station as well as I-94, both of which are located one mile west of the Property. The Property is also situated near the Village’s many parks, restaurants, shopping centers, and is a quick drive to Oakton Community College which has an enrollment of over 9,800 students.
- Rare Opportunity To Own A Well-Maintained Vintage Building in Residential Section of Skokie
- (12) Large 1Bd/1Ba Units and (1) 2Bd/1Ba Unit with Opportunity to Convert Several 1Bd Units to 2Bd Units
- Multiple Recent Capital Improvements: New Boiler, Windows, Copper Plumbing and Silver Roof Coating
- One Mile From CTA Yellow Line Station and I-94